ARTICLE · 14 APRIL 2005

Energy Client Alert - April 1 2005

Powell Goldstein LLP

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After several years of preparation, on April 1, 2005, the Midwest Independent Transmission System Operator became the first multi-state RTO without a historical tight power pool to implement a day-ahead and real time wholesale energy market with centralized economic dispatch, full locational marginal pricing and a market for Financial Transmission Rights

United StatesGovernment, Public Sector

Richard Drom

Midwest ISO Market Launch A Success

After several years of preparation, on April 1, 2005, the Midwest Independent Transmission System Operator ("Midwest ISO") became the first multi-state RTO without a historical tight power pool to implement a day-ahead and real time wholesale energy market with centralized economic dispatch, full locational marginal pricing ("LMP") and a market for Financial Transmission Rights ("FTRs").

During that time, the Midwest ISO had to overcome numerous challenging obstacles including:

(1) accommodating existing transmission agreements that constituted a significant percentage of market transactions in the new energy market structure without abrogating the contractual rights of the transmission customers operating under those agreements; (2) integrating 23 distinct Control Areas into a single region-wide market design; (3) developing a single region-wide transmission rate design that took into account the vast geographical differences in marginal losses

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